McKinsey & Company: Individual Insurance

Individual health insurance refers to a type of health insurance coverage that is purchased by an individual for themselves, rather than by an employer or other organization on behalf of its members. It is a way for individuals to obtain coverage for themselves and their families when they are not eligible for employer-sponsored health insurance or other group health insurance plans. Individual health insurance plans are available through private insurance companies and can be purchased on the open market, through a government marketplace, or through an insurance broker or agent. Individual health insurance plans typically provide coverage for medical expenses, including hospital stays, prescription medications, and other medical services. They may also include coverage for preventive care, such as annual check-ups and screenings. The cost of individual health insurance can vary based on factors such as the individual’s age, location, and health status, as well as the level of coverage and benefits included in the plan.